OPEN MENUCLOSE MENU
  • Home
  • NYIF
  • Federal Jobs in Nigeria
  • NYIF News
  • Npower News
  • NASIMS
  • Survival Fund
  • Nigerian Army
  • Nigeria Airforce

Voice of Nigeria

voiceofnigeria.org.ng is the number go-to for making money, grants, fund, loan options and federal government jobs

NYIF disbursement: Ministry clears doubt about the Loan Approval

April 20, 2021 By Amitverain Leave a Comment

NYIF disbursement: Ministry clears doubt about the Loan Approval

The Ministry of Youth and Sports Development has dispelled doubts about the disbursement of the Nigerian Youth Investment Fund (NIIF), assuming this is done in stages.

The Ministry of Youth and Sports Development acknowledges the plight of some NYIF beneficiaries, particularly those who have reported on the stress of N30000.00 cap delivery capacity on disbursement under the first tranche of N12.5 billion.

“First of all, the framework specifies 250k as the maximum for individual and qualified businesses that can reach 3m to meet the main criteria set out in the Guidelines and Conditions that are important.

Given the number of applications, there was a need to ensure dissemination and enable more beneficiaries to enjoy the facility. ”

The statement further stated, “It is pertinent to state that the Ministry has received more than three million applications for the available N12.5 billion, and at the current cap of N300.000.00 per beneficiary, covering only about 41,000 beneficiaries.

‘The ministry is keen to reach out to the maximum number of beneficiaries, hence the decision to limit the loan to the current amount.

We also know that some applicants have also benefited from the current intervention, which has supported them and is having an impact on the economy.

“It’s important that we grow slowly in the beginning, given that there are also many first-time borrowers, and that the program is double-edged, which includes capacity building, mentoring, monitoring and support, beneficiaries and expected outcomes. It will sustain. It will guarantee. Once the additional loan is available, the threshold will be possible. ”

The ministry also confirmed that the NYIF is not a grant, but a loan intended for young people to start a small business or to invest money in an existing small business.

Related

FREE REGISTRATION

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Search Jobs in Nigeria

Recent Posts

  • [2023] 6+ Easy Ways to Make ₦5000 Daily without Investment
  • FCMB FastCash Loan N200,000 – Get in 5 Minutes
  • Nigeria Immigration Service Recruitment 2023 | Application, Salary & More
  • [Updated] List of Fake Loan Apps in Nigeria 2023
  • CBN Domestic Card Scheme “Arigo” Launched – Know more
  • [Updated] Dollar to Naira Black Market Today Exchange Rate 2023 AbokiFx
  • Make Money Selling Logos Designs on Online Sites 2023
  • Make ₦460,000+ a Month Online as a Writer in Nigeria 2023
  • Dollar to Naira Today | Dollar ⇆ Naira Exchange Rate
  • 10 Online Typing Jobs Pay ₦9000 Per Hour

Popular Articles

  • Top 10 Cheapest Countries to Study Abroad
  • 40+ List of Visa Free Countries – Travel Abroad Without Having Visa
  • Canada Visa Lottery
  • Holland Visa Lottery
  • Australia Visa Lottery
  • United Kingdom Visa Lottery
  • US Green Card An A-Z Guide
Copyright © 2020 Voice of Nigeria. All Rights Reserved
Contact   About  Disclaimer  Privacy Policy